Candriam S.C.A. Has $21.72 Million Stake in Mineralys Therapeutics, Inc. $MLYS

Candriam S.C.A. raised its stake in shares of Mineralys Therapeutics, Inc. (NASDAQ:MLYS) by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 801,904 shares of the company’s stock after buying an additional 123,517 shares during the period. Candriam S.C.A.’s holdings in Mineralys Therapeutics were worth $21,724,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MLYS. RA Capital Management L.P. raised its stake in shares of Mineralys Therapeutics by 19.1% in the 3rd quarter. RA Capital Management L.P. now owns 7,323,750 shares of the company’s stock valued at $277,717,000 after acquiring an additional 1,176,470 shares in the last quarter. Vanguard Group Inc. boosted its position in Mineralys Therapeutics by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 3,352,880 shares of the company’s stock worth $121,676,000 after purchasing an additional 333,881 shares during the period. State Street Corp boosted its position in Mineralys Therapeutics by 144.4% during the fourth quarter. State Street Corp now owns 3,184,999 shares of the company’s stock worth $115,584,000 after purchasing an additional 1,881,976 shares during the period. Caligan Partners LP grew its holdings in Mineralys Therapeutics by 37.4% during the third quarter. Caligan Partners LP now owns 2,772,654 shares of the company’s stock valued at $105,139,000 after purchasing an additional 755,302 shares during the last quarter. Finally, Suvretta Capital Management LLC raised its position in shares of Mineralys Therapeutics by 22.2% in the third quarter. Suvretta Capital Management LLC now owns 2,132,133 shares of the company’s stock valued at $80,850,000 after purchasing an additional 387,641 shares during the period. Institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other Mineralys Therapeutics news, CEO Jon Congleton sold 75,000 shares of Mineralys Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $26.14, for a total transaction of $1,960,500.00. Following the sale, the chief executive officer directly owned 614,321 shares of the company’s stock, valued at approximately $16,058,350.94. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Warren sold 104,124 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.90, for a total value of $2,696,811.60. Following the transaction, the insider owned 38,400 shares of the company’s stock, valued at $994,560. This trade represents a 73.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 266,832 shares of company stock worth $7,002,196 over the last quarter. Company insiders own 18.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MLYS. Jefferies Financial Group restated a “hold” rating on shares of Mineralys Therapeutics in a research note on Monday, June 1st. HC Wainwright reiterated a “buy” rating on shares of Mineralys Therapeutics in a report on Monday, June 1st. Wall Street Zen lowered shares of Mineralys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Mineralys Therapeutics in a report on Tuesday, April 21st. Finally, TD Cowen began coverage on Mineralys Therapeutics in a research report on Monday, April 27th. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Mineralys Therapeutics Stock Performance

Shares of MLYS traded down $0.58 during mid-day trading on Friday, hitting $28.38. The company’s stock had a trading volume of 727,682 shares, compared to its average volume of 1,613,234. Mineralys Therapeutics, Inc. has a one year low of $12.59 and a one year high of $47.65. The firm has a market capitalization of $2.34 billion, a PE ratio of -13.84 and a beta of 0.66. The stock’s 50-day moving average is $27.33 and its two-hundred day moving average is $28.91.

Mineralys Therapeutics (NASDAQ:MLYS) last announced its earnings results on Wednesday, May 6th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Analysts expect that Mineralys Therapeutics, Inc. will post -2.3 EPS for the current fiscal year.

About Mineralys Therapeutics

Mineralys Therapeutics, Inc, a clinical-stage biopharmaceutical company that develops therapies for the treatment of hypertension and chronic kidney diseases. It clinical-stage product candidate is lorundrostat, a proprietary, orally administered, highly selective aldosterone synthase inhibitor for the treatment of cardiorenal conditions affected by abnormally elevated aldosterone. The company was formerly known as Catalys SC1, Inc and changed its name to Mineralys Therapeutics, Inc in May 2020. The company was incorporated in 2019 and is headquartered in Radnor, Pennsylvania.